It has been a long time since the Chinese leadership traded in Marxist-Leninist dogma for practical economic policies, and most of the growth potential inherent in a poor nation with a suppressed entrepreneurial culture has been exhausted. Wages are no longer competitive. Large-scale commodity industries have been overbuilt. Government subsidies and debt financing have been excessive. An economic structure dominated by state-owned enterprises has outlived its usefulness. Financial stimulus is not working very well anymore. The natural environment has been wrecked, and the subordination of safety to growth has led to carelessness, corruption, and disaster. …So, how bad can things get in China?